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SINGAPORE

SINGAPORE

The economy of Singapore is a highly-developed free-market economy. Singapore's economy has been ranked by the World Economic Forum as the most open in the world. The estimate GDP of Singapore in 2019 is $379.071 billion and it is show growth by 5.5% in 20121. Contribution of agriculture sector of the Singapore in its GDP is up to 0.5% which is very less in the world. There for the Singapore comes in top 10 countries which imports fresh fruit and vegetables. Singapore is the 1st largest fresh fruit and vegetables importer of USA. In 2019 Singapore was the number 33 economy in the world in terms of GDP the number 18 in total exports, the number 16 in total imports, the number 9 economy in terms of GDP per capita and the number 6 most complex economy according to the Economic Complexity Index (ECI). In 2019 Singapore imports up to $321B and importing mostly from China ($52.4B), Malaysia ($36.2B), United States ($28.4B), Chinese Taipei ($22.9B), and Japan ($17B). In 2019 India export 2.97% of its import. The top imports of Singapore are Integrated Circuits($43.5B), Refined Petroleum ($41.4B), Crude Petroleum ($22.5B), Gold ($10.8B), and Gas Turbines ($8.37B). In 2019, Singapore was the world's biggest importer of Passenger and Cargo Ships ($7.99B), Other Glass Articles ($498M), Bovine, Sheep, and Goat Fat ($226M).

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